Summary

Introduces wstETH as a deposit asset and can be lent by borrowers.

Background

According to the rules of community governance: Governance Mechanism - Portal (benddao.xyz)

• Phase 1: Idea or Draft
  • Minimum number of supports: 10 - Pass
  • Discord Idea: https://discord.com/channels/897709643948761148/1181034244227747971
• Phase 2: BendDAO Forum Discord
  • Minimum number of voters: 10 - Pass
  • BRC: Enable wstETH deposits and facilitate borrowing by NFT collateral holders - BendDAO
• Phase 3: On-chain voting
  • Voting Quorum: Approximately 56M veBEND (10% of the total supply)
  • Pass Rate: Over 70% Approve.
  • The voting will last for 7 days.

Parameters

According to the latest BIP#44 proposal:

[BendDAO Proposal: BIP#44: Lower ETH Pool’s Base Rate and Protocol Admin Fee (snapshot.org)]

The base rate is: 12%

The interest distribution is: LP - 75%, Treasury - 25%.

No token incentives are provided for the time being.